Earth Policy Institute: Podcast

Why World Food Prices May Keep Climbing

In February, world food prices reached the highest level on
record. Soaring food prices are already a source of spreading
hunger and political unrest, and it appears likely that they will
climb further in the months ahead.

As a result of an extraordinarily tight grain situation, this
year’s harvest will be one of the most closely watched in years.
Last year, the world produced 2,180 million tons of grain. It
consumed 2,240 million tons, a consumption excess that was made
possible by drawing down stocks by 60 million tons. (See data.) To avoid repeating last year’s shortfall
and to cover this year’s estimated 40-million-ton growth in demand,
this year’s world grain harvest needs to increase by at least 100
million tons. Yet that would only maintain the current precarious
balance between supply and demand.

About the Podcast

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